The Mexican peso appreciated on Wednesday for the third consecutive day after the disclosure of inflation figures in the United States that were lower than expected, in a market also with an eye on the Bank of Mexico's monetary policy notice on Thursday.
dollar to peso exchange rate
The peso appreciated after it was announced that inflation in the United States slowed down in July. And this morning the exchange rate reached 20.0044 pesos per dollar, according to data from Bloomberg.
Thus, the peso reaches its best level since the end of June and presents an appreciation of 1.3% compared to the close of Tuesday registered by the Bank of Mexico, when the exchange rate was 20.2688 pesos for each dollar.
The US Consumer Price Index rose 8.5% year-on-year last month, after a 9.1% rise in June. A Reuters poll of analysts had forecast the figure to be 8.7% in July.
"Although this morning the exchange rate moves along with the rest of the market, in the next few hours the Mexican peso could show an independent behavior, because the market is in anticipation of the Bank of Mexico's monetary policy announcement on Thursday. local firm Banco Base said.
The central bank is expected to raise its key interest rate by 75 basis points to an all-time high of 8.5%.
In the last three sessions, the currency accumulated a yield of 1.76%.